APA’s (APA) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of APA (NASDAQ:APA) in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $41.00 price target on the stock.

A number of other equities analysts also recently issued reports on APA. Roth Mkm raised their price objective on shares of APA from $37.00 to $39.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Morgan Stanley restated an underweight rating and issued a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Wells Fargo & Company lowered their target price on APA from $53.00 to $52.00 and set an overweight rating on the stock in a research report on Wednesday, May 22nd. Finally, Susquehanna upped their price target on APA from $54.00 to $57.00 and gave the stock a positive rating in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, APA presently has an average rating of Hold and a consensus target price of $39.95.

APA Price Performance

Shares of APA opened at $29.97 on Wednesday. The firm has a market cap of $11.12 billion, a PE ratio of 3.35, a P/E/G ratio of 0.34 and a beta of 3.26. APA has a 1-year low of $27.17 and a 1-year high of $46.15. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $29.45 and a two-hundred day simple moving average of $31.35.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. On average, equities analysts anticipate that APA will post 4.54 EPS for the current year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s payout ratio is presently 11.19%.

Institutional Investors Weigh In On APA

Large investors have recently bought and sold shares of the business. Gateway Investment Advisers LLC grew its position in APA by 35.8% in the second quarter. Gateway Investment Advisers LLC now owns 8,300 shares of the company’s stock worth $244,000 after acquiring an additional 2,188 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of APA by 36.9% in the 2nd quarter. SG Americas Securities LLC now owns 226,947 shares of the company’s stock valued at $6,681,000 after purchasing an additional 61,153 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of APA by 27.6% in the 2nd quarter. QRG Capital Management Inc. now owns 15,947 shares of the company’s stock worth $469,000 after purchasing an additional 3,448 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of APA during the 2nd quarter valued at approximately $57,000. Finally, OLD National Bancorp IN purchased a new stake in APA during the 2nd quarter valued at $3,759,000. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.